Iranian General Saeed Muhammad has called for the use of cryptocurrencies in the country to get around the sanctions put on by the United Nations and the USA. Saeed is the commander of the Islamic Revolutionary Guard Corps, which is a branch of the Iranian Armed Forces.
Iran looking to use crypto for international trade
Iran has been facing sanctions from the USA for a long time and has not been able to participate in international trade. Cryptocurrencies being decentralized can easily be used by Iran for international trade. According to local reports, the General said that to circumvent sanctions, Iran must develop solutions such as the exchange of products and the use of cryptocurrencies with their partners in other countries.
Iran is not the only country looking to avoid sanctions using crypto.
Iran is among the other several countries that are planning to use cryptocurrencies to evade sanctions and participate in international trades. Earlier, North Korea was accused of using cryptocurrency to funds its ballistic missile programs and execute international trade. The Kim Jong-un led regime held crypto and blockchain conference with the focus on how they can avoid US sanctions. The US law enforcement arrested former Ethereum researcher for attending the conference in North Korea. Venezuela is another country that has experimented with cryptocurrencies to get around sanctions.
